Portal:Money

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The Money Portal

Euro coins and banknotes

A sample picture of a fictional ATM card. The largest part of the world's money exists only as accounting numbers which are transferred between financial computers. Various plastic cards and other devices give individual consumers the power to electronically transfer such money to and from their bank accounts, without the use of currency.

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfils these functions can be considered as money.

Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private".^{[better source needed]} Counterfeit money can cause good money to lose its value.

The money supply of a country consists of currency (banknotes and coins) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries. (Full article...)

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A currency in the most specific sense is money in any form when in use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially for people in a nation. Under this definition, U.S. dollars (US$), euros (€), Indian rupee (₹), Japanese yen (¥), and pounds sterling (£) are examples of currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.

Other definitions of the term "currency" appear in the respective synonymous articles: banknote, coin, and money. This article uses the definition which focuses on the currency systems of countries. (Full article...)

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The Columbian half dollar is a coin issued by the Bureau of the Mint in 1892 and 1893. The first traditional United States commemorative coin, it was issued both to raise funds for the 1893 World's Columbian Exposition and to mark the quadricentennial of the first voyage to the Americas of Christopher Columbus, whose portrait it bears. The Columbian half dollar was the first American coin to depict a historical person.

The coin stems from the desire of the Columbian Exposition's organizers to gain federal money to complete construction of the fair. Congress granted an appropriation, and allowed it to be in the form of commemorative half dollars, which legislators and organizers believed could be sold at a premium. Fair official James Ellsworth wanted the new coin to be based on a 16th-century painting he owned by Lorenzo Lotto, reputedly of Columbus, and pushed for this through the design process. When initial sketches by Mint Chief Engraver Charles E. Barber proved unsatisfactory, fair organizers turned to a design by artist Olin Levi Warner, which after modification by Barber and his assistant, George T. Morgan, was struck by the Mint. (Full article...)

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Did you know - show different entries

... that 75 business leaders, pastors, and listeners of Nevada's KRCV radio attempted to buy the station, even though it was not making money?
... that stolen money was found at Newforge in what was believed to be an IRA plot to frame the Police Service of Northern Ireland?
... that Royal B. Lord collected money for the 1931 Army–Navy Game at Yankee Stadium in Evangeline Booth's tambourine?
... that Johnny Peirson signed with the Boston Bruins to earn some extra money for his education at McGill University?
... that during the Battle of Bovey Heath, Royalist officers escaped by "throwing their stakes of money", which the enemy soldiers paused to collect?
... that after Ted Turner asked for viewers' money to keep WRET-TV afloat, he was able to repay thousands of lenders four years later—with interest?

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The following are images from various currency-related articles on Wikipedia.

Image 1Athens coin (c. 500/490-485 BC) discovered in Pushkalavati. This coin is the earliest known example of its type to be found so far east. (from Punch-marked coins)
Image 2A former Finnish 10 mark banknote from 1980. President J. K. Paasikivi illustrated in a banknote. (from Money)
Image 3Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), reverse (from Tibetan tangka)
Image 4Tibetan kong par tangka, dated 13-45 (= AD 1791),reverse (from Tibetan tangka)
Image 5Banknotes of different currencies with a face value of 5000 (from Money)
Image 6Tibetan kong par tangka, dated 13-45 (= AD 1791),obverse (from Tibetan tangka)
Image 7US dollar banknotes (from Money)
Image 8Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,obverse (from Tibetan tangka)
Image 9Undated Kelzang tangka (1910), obverse (from Tibetan tangka)
Image 10Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), obverse (from Tibetan tangka)
Image 11Tibetan undated silver tangka, struck in 1953/54, reverse. (from Tibetan tangka)
Image 12Huizi currency, issued in 1160 (from Money)
Image 13Tibetan "gaden" Tangka, undated (ca. AD 1840), reverse (from Tibetan tangka)
Image 14Tenga of Muhammad Khudayar Khan, struck at the Kokand mint, dated 1862–1863 (from Kokand tenga)
Image 15Gold coins are an example of legal tender that are traded for their intrinsic value, rather than their face value. (from Money)
Image 16Song Dynasty Jiaozi, the world's earliest paper money (from Money)
Image 17Money Base, M1 and M2 in the U.S. from 1981 to 2012 (from Money)
Image 18A hoard of punch-marked coins (from Punch-marked coins)
Image 19A 1914 British gold sovereign (from Money)
Image 20A sample picture of a fictional ATM card. The largest part of the world's money exists only as accounting numbers which are transferred between financial computers. Various plastic cards and other devices give individual consumers the power to electronically transfer such money to and from their bank accounts, without the use of currency. (from Money)
Image 21Sino Tibetan silver tangka, dated 58th year of Qian Long era, obverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)
Image 22Tibetan undated silver tangka, struck in 1953/54, obverse. (from Tibetan tangka)
Image 23Paper money from different countries (from Money)
Image 24A 640 BC one-third stater electrum coin from Lydia (from Money)
Image 25Punch-marked coins discovered from Chandraketugarh. (from Punch-marked coins)
Image 26A check, used as a means of converting funds in a demand deposit to cash (from Money)
Image 27Printing paper money at a printing press in Perm (from Money)
Image 28Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,reverse (from Tibetan tangka)
Image 29Sino Tibetan silver tangka, dated 58th year of Qian Long era, reverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)
Image 30Undated Kelzang tangka (1910), reverse (from Tibetan tangka)
Image 31A person counts a bundle of different Swedish banknotes. (from Money)
Image 32"Bent bar" minted under Achaemenid administration, Gandhara, c.350 BC. (from Punch-marked coins)
Image 33Tibetan "gaden" Tangka, undated (ca. AD 1840), obverse (from Tibetan tangka)

In the news

4 October 2021 – Aftermath of the 2021 Myanmar coup d'état: Deposed leader Aung San Suu Kyi asks to reduce her time in court appearances, stating that her health has deteriorated. The judge will make a decision on the request next week. Suu Kyi currently faces multiple charges ranging from corruption to money laundering. (The Guardian)
3 October 2021 – Pandora Papers: 11.9 million leaked documents are published by the International Consortium of Investigative Journalists, which expose hidden wealth, tax evasion and money laundering among 330 politicians, including 35 national leaders, and numerous celebrities worldwide, including 130 billionaires, totaling 29,000 beneficiaries among 27,000 companies. This is the largest offshore data leak in history, surpassing the Panama Papers by nearly half a million documents. (BBC News) (International Consortium of Investigative Journalists)
7 September 2021 –: The Supreme Court of Cape Verde approves the extradition of Alex Saab to the United States for alleged money laundering on behalf of the Venezuelan government. Saab was arrested in Cape Verde in June 2020, when his plane stopped there for refuelling while flying to Iran. (Reuters)
31 August 2021 – Corruption in Peru: The Peruvian judiciary kicks off a preliminary court hearing against Popular Force leader Keiko Fujimori to decide whether to prosecute her for money laundering and her involvement in the Odebrecht scandal. (RPP)